The court indicated its decision doesn’t necessarily apply to the central bank and Chairman Jerome Powell — a frequent target of Trump’s criticism on economic matters.

The US Supreme Court on Thursday allowed President Donald Trump to fire leaders of two independent agencies, but signalled that such dismissals would not be permitted for the Federal Reserve.

At issue is President Trump's firing of NLRB member Gwen Wilcox, who still has three years left on her term, and Cathy Harris, who still has four years left on her term as a member of the MSPB.